Bithumb loses $30 million in cryptos to thieves, alerts against entering passwords!

South Korean cryptocurrency exchange, Bithumb lost over $30 million earlier today. The exchange has confirmed about the theft earlier this morning. It is believed to be a case of a cryptocurrency hack. The exchange trades in all the big cryptocurrencies including Bitcoin, Ethereum, Ripple, Tron, and Bitcoin Cash.

Post this digital blunder, Bithumb followed up in several tweets:

“[Notice for the temporary suspension of the deposits]
Due to the increasing safety issues, we are changing our wallet system.
Please do not deposit until we notify.
*All deposits are not deposited into your wallet until all changes are completed.”

Bithumb’s tweet | Source: Twitter

In the latest update by Bithumb, they have posted “An Emergency Announcement” via Twitter, where they have alerted their users against using any passwords until further notice. They have also conveyed that all the lost passwords will be recovered from their own reservoir.

Meanwhile, all the money from the exchange is now being moved to a cold wallet to tighten up the security.

It has issued an apology statement, stating:

“I sincerely apologize for any inconvenience you may have experienced. However, we will make every effort to reopen the service as soon as possible, with the ultimate goal of protecting your assets.”

Charlie Lee, the creator of Litecoin [LTC], tweeted:

“Another day, another hack. Hopefully BitThumb is able to cover this amount, though $30MM is not a small amount. As I’ve said many times, be smart and only keep on exchange coins that you are actively trading. It’s best to withdraw right after trading.”

To which, Pnanthakumar, a follower, replied:

“Most of us are too amateur to keep our coins offline including myself”

Crypto Joe, another Twitter user, and crypto-follower commented:

“How can #crypto be adopted by the masses if something like this happens almost every year? And what can be done to prevent hacks like this in the future?”

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